A comeback you did not expect.
Solana
Joined January 2022
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Tell me a protocol on Solana that has a higher @VelocityDEX compared to @stabbleorg .
-> enter pool here : app.stabble.org/liquidity-po…
Drift Protocol has a new name.
Beautiful name - and welcome back! Excited to see what you’ll be shipping.
By the numbers, which protocol has the highest velocity of capital in the Solana ecosystem? 😅
Today, Drift is rebranding to Velocity.
Our new name reflects the new and improved platform that we are building. Perpetual trading is a market where execution speed and directional precision determine outcomes. Velocity captures both, and signifies the momentum behind our relaunch.
The rebrand marks a deliberate line between what was and what comes next. Velocity is the exchange we have been building toward — a cleaner architecture, a stronger security foundation, and a clearer sense of what this platform is for. The name carries that intent.
As Velocity continues building towards relaunch, we are also planning to release our private Beta to select partners and traders in the coming days. This is an important step towards ensuring Velocity is rebuilt into the most robust perps exchange on Solana.
We look forward to sharing more soon.
probably nothing...
just 60k volume with 7.5k TVL @stabbleorg
USDC you know, USX check out @solsticefi
LPs! Stabble is open.
The security overhaul is in place. Multisig hardened, 24h timelock active, contracts going open source, monitoring will soon be live.
We've done the work. Now its time to go back to get 15-20% on stable coins on solana!
LPs: 👇
🔗 app.stabble.org
Our latest update:
We can confirm now until one year ago we had a NK developer in the team.
He was backed by other north Korean that supported his work. We thank @derparsel and @zachxbt for their work.
Historically we have done audits with Sec3 and neodyme – everything looked good, by the time NK developer was still part of the team. For more check here:
github.com/stabbleorg/audit-…
We are now in contact with new auditing firms, to do additional audits and testings.
This should have been happening already a long time ago.
Further, we are in contact with intelligence and major Solana defi protocols who are supporting us in this critical times:
Our bottleneck: The new team took over the protocol at bankruptcy, meaning no funds left. We had a strategy to save funds like a squirrel, make buyback and grow the project. This has worked really well the first 4 weeks. TVL doubled, also thanks to 1mio whale, and amplification factors and fee level being optimized.
The path was set.
Now, we need to get funds together to finance all of these audits. This kills our initial strategy.
The new team believes in the product, we are a balancer based AMM model, with super high velocity and integrated in all major aggregators. We are permissionless, no prop AMM, you can actually use us and get yield over 10%.
Uhh did you say Balancer? Yes balancer, and not hacked. Last men standing.
The new teams are defi degens and quants, and we know how difficult it is to accumulate return on investment, that’s why we wanted to protect our LPs first.
Event if the probability for an exploit was low.
Better safe than sorry.
We prefer to die as protocol, over a small risk of being exploited.
If you like what the new team does, we are happy if you follow up on us, and once we are 99.99% secure, get some yield on BTC or USD. For the moment please don’t deploy liquidity, ideally withdraw.
We have various products in mind that we can build with the current smart contract infrastructure that will blow your mind and it would be a pity if we disappear. Still better than risking capital of our LPs.
A few takes for people running DeFi projects. #1 Check everyone in your team personally, don’t employ people you don’t know, don’t hire people by reputation – get to know them personally. #2 Build a communication channel to your LPs. We had a telegram LP group, most of our major LPs were in their and withdrew money before we pushed our public “EMERGENCY” statement.
you are right, the product is hyper efficient, velocity at its best, permissionsless for everyone. Just one huge bottlenack, that was openly communicated by us. Now we want to become super safe and then scale again. Better safe than sorry.
To be safe - everyone please temporally withdraw your liquidity instantly !
Better safe than sorry.
This is the new team from stabble, that aimed to repair the project.
We will do new audits to be safe about our LPs.
Then we can continue. Safety first.
Stop virtue signaling you conveniently left out the fact that you had a DPRK IT worker on payroll at Elemental for years.
Name: Keisuke Watanabe
X: kasky53
GitHub alias: keisukew53, kdevdivvy, kasky53, 0xWoo
Email: keisukew53@gmail[.]com
Related addresses:
JBxidGWnhtPTGg8xw7sFT9tF4cfGtHnjYNp5GDJvGveh
8mdfRML7z3s8gqDYd72bywcEgQtcvkoJCw2bukv8X71R
BjGhtq5Vh9Lv1xxBJ6pZKx3ZCmsEHPVoWNZZGdHkVQ4p
DybGDChJMvX9Jnza4XTQVDyUGZ6jYrRg9Q3CdLiEJeh2
0x1b89aecc0f8c128150db67d7d0c4b1daeb43eda4
0x3b6cdb27d54c5773893be72973eacc8681fa21ff
0x161dea4d7ac627f2bc4358dfece386c0e9f4cc8f
Important announcement:
We will delist our $STB token from @Gate on 8 April.
After considering the costs of keeping the token on Gate and the negative side effects of the token being traded against USDC (spreads, arbitrage), we decided to delist our token there. In the long term, this will help us make $STB buybacks more effective since they won't be affected by arbitrage traders between the DEXs and Gate.
Please withdraw your funds from Gate by 8 April.
This has no impact on our token being traded on DEXs. For the best price, always use Jupiter.